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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

What is the advantage of the Herfindahl index over the four-and eight-firm concentration ratios? Explain your answer.

To determine

Explain the advantage of Herfindahl index over four-firm and eight-firm concentration ratios.

Explanation

Herfindahl is the straightforward method, which is used in the contexts of anti-trust legislation and regulation to determine the degree of market power. The range between the Herfindahl indexes is 0 to 10,000. The advantage of Herfindahl index is that it provides the degree of a firm’s size in the market...

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